Obama’s chief of staff is JP Morgan’s Daley

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PRESIDENT Barack Obama yesterday said he had chosen JP Morgan Chase executive William Daley to be his new White House chief of staff, retooling his team with a politically savvy businessman at the helm.

“He possesses a deep understanding of how jobs are created and how to grow our economy,” Obama said.

Daley is head of corporate and social responsibility at JP Morgan, where he sits on the executive board. He will replace Rahm Emanuel, who left the administration last year.